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用途別(レクリエーション、輸送、農業、建設)、エンジンタイプ別(内燃エンジン、電気エンジン、ハイブリッドエンジン)、乗車定員別(2人乗り、4人乗り、6人乗り、8人乗り)、燃料タイプ別(ガソリン、ディーゼル、電気)、地域別(北米、ヨーロッパ、南米、アジア太平洋、中東、アフリカ)による多目的地形車両市場調査レポート - 2032年までの予測


ID: MRFR/AM/4660-CR | 110 Pages | Author: Sejal Akre| October 2022

Utility Terrain Vehicle Market Summary

As per MRFR Analysis, the Utility Terrain Vehicles Market was valued at 7.94 USD Billion in 2022 and is projected to grow from 8.28 USD Billion in 2023 to 12.11 USD Billion by 2032, reflecting a CAGR of 4.32% from 2024 to 2032. The market is driven by rising demand for versatile off-road vehicles, technological advancements, and expansion into various industries such as agriculture and construction. The increasing popularity of outdoor recreational activities and adventure tourism further fuels market growth.

Key Market Trends & Highlights

Key trends shaping the Utility Terrain Vehicles Market include technological innovations and evolving consumer preferences.

  • Recreation segment valued at 2.1 USD Billion in 2023, highlighting the demand for off-road activities.
  • Agriculture segment valued at 2.2 USD Billion, showcasing UTVs' essential role in farming operations.
  • Electric engine adoption is rising due to environmental awareness, influencing market dynamics.
  • North America leads the market with a valuation of 3.5 USD Billion in 2023, expected to reach 5.0 USD Billion by 2032.

Market Size & Forecast

2022 Market Size: USD 7.94 Billion
2023 Market Size: USD 8.28 Billion
2032 Market Size: USD 12.11 Billion
CAGR (2024-2032): 4.32%
Largest Regional Market Share in 2023: North America.

Major Players

Key players include Kubota Corporation, BRP, Suzuki Motor, Honda Motor, Hisun Motor, Kawasaki Heavy Industries, Mahindra and Mahindra, John Deere, CFMOTO, Textron, Polaris Industries, Yamaha Motor, CanAm, Arctic Cat.

Report Attribute/Metric Details
Market Size 2022 7.94 (USD Billion)
Market Size 2023 8.28 (USD Billion)
Market Size 2032 12.11 (USD Billion)
Compound Annual Growth Rate (CAGR) 4.32% (2024 - 2032)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year 2023
Market Forecast Period 2024 - 2032
Historical Data 2019 - 2023
Market Forecast Units USD Billion
Key Companies Profiled Kubota Corporation, BRP, Suzuki Motor, Honda Motor, Hisun Motor, Kawasaki Heavy Industries, Mahindra  and  Mahindra, John Deere, CFMOTO, Textron, Polaris Industries, Yamaha Motor, CanAm, Arctic Cat, TGB Motor
Segments Covered Application, Engine Type, Passenger Capacity, Fuel Type, Regional
Key Market Opportunities Growing outdoor recreational activities, Increasing demand in agricultural sectors, Expansion in mining and construction, Technological advancements in EV UTVs, Rising popularity in tourism and adventure activities
Key Market Dynamics Increasing demand for off-road vehicles, Growing popularity in recreational activities, Rising applications in agriculture, Technological advancements in UTVs, Expanding outdoor tourism sector
Countries Covered North America, Europe, APAC, South America, MEA


Frequently Asked Questions (FAQ) :

The Utility Terrain Vehicles Market is expected to be valued at 12.11 USD Billion by 2032.

The expected CAGR for the Utility Terrain Vehicles Market from 2024 to 2032 is 4.32%.

North America is expected to dominate the Utility Terrain Vehicles Market with a valuation of 5.0 USD Billion in 2032.

The Recreation application segment of the Utility Terrain Vehicles Market is projected to reach 3.0 USD Billion by 2032.

Major players in the Utility Terrain Vehicles Market include Kubota Corporation, BRP, Suzuki Motor, Honda Motor, and Polaris Industries.

The Agricultural application segment of the Utility Terrain Vehicles Market is expected to be valued at 3.1 USD Billion by 2032.

The Transportation application segment of the Utility Terrain Vehicles Market is projected to be valued at 2.8 USD Billion in 2032.

The Construction application segment is anticipated to reach 3.21 USD Billion by 2032.

The European market for Utility Terrain Vehicles is projected to be valued at 3.25 USD Billion by 2032.

The APAC region is expected to reach a market size of 2.65 USD Billion for Utility Terrain Vehicles by 2032.

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